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NY A04972
Bill
Status
6/30/2023
Primary Sponsor
Edward Braunstein
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AI Summary
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Extends the partial tax abatement program for eligible cooperative and condominium dwelling units in cities with populations of one million or more through fiscal year 2026 (previously set to expire in 2022)
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Maintains eligibility requirements limiting abatement to unit owners with no more than three dwelling units in a single property, with one being their primary residence
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Preserves tiered abatement percentages based on average unit assessed value, ranging from 17.5% to 28.1% depending on property value brackets
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Updates application deadline provisions to allow the Commissioner of Finance to establish filing dates for fiscal years 2014 through 2026, not to exceed February 15th of each applicable year
Legislative Description
Extends certain provisions relating to a partial tax abatement for residential real property held in the cooperative or condominium form of ownership in a city having a population of one million or more.
Last Action
signed chap.147
6/30/2023